Many version exist regarding the etymology of the name Paxi. According to the ancient Greek geographer Strabo, the name Paxi is originates from the Phoenician word πακς (paks), trapezium, meaning an island in the shape of a trapezium. The Metropolitan of Paramythia, Athenagoras, states that name derives from the flagstones quarried on the island for export, Paxi being a composite noun meaning the island of the flagstones, formed from παξ (paks), flagstone, and αι (ai) or αε (ae), island. Moustoxidis considers that the island's name comes from the adjective pακτός (paktos), the Doric for dense. “The Thesaurus of the Greek Language” by Errikos Stefanos gives the etymology of the name from πήξω (pekso) the future form of the Ancient Greek verb πηγνύω (pegnyo). Another possibility is that the name stems from the phrase πακσώσας θύρας (paksosas thiras) meaning closed gates and referring to the naturally enclosed harbour of Gaios. Finally, Giannis Doikas believes that the Latin word pax, peace, is one that is perfectly suited to the peaceful island of Paxi.